SOURCE: Zeus Development Corp.

May 11, 2007 12:15 ET

Marine-CNG Project Set to Go, Sponsor Joins Houston Conference

HOUSTON, TX -- (MARKET WIRE) -- May 11, 2007 -- Anthony Reinsch, Exec. VP of Artumas Group Inc., will speak at the upcoming conference, "Advancements in CNG-Marine Transport: The Final Approach to Commercialization," June 26-28.

Artumas could very well be the firm to order the world's first CNG-transport ship. The company holds a substantive and strategic acreage position in Tanzania and Mozambique. Reinsch will discuss the company's gas development plans and timing to produce and supply this gas to power stations in East Africa.

The company, however, will have to move quickly if it is to be the first to commercialize CNG ocean transport. Several other projects are gaining steam. In the Caribbean, for example, Jamaican power producers are searching for low-cost gas to replace expensive heavy fuel oil (HFO) and distillate. Stephen Wedderburn, Jamaica's Petroleum Corporation group technical director, and Clive Mullings, Jamaica's Shadow Minister of Mining, Energy and Telecommunications, will discuss possible CNG projects to serve Jamaica.

In a recent survey, Zeus identified owners asking prices below $2.00/MMBtu for reserves too small for LNG but suited for CNG. With many power markets paying more than $10/MMBtu for liquid fuels, CNG developers have wide margins in which to establish supply chains.

To examine this further, Zeus will host the conference June 26-28 to tour the Jindal Texas Steel Works in Baytown, Texas, where CNG-vessels are fabricated, and then return to the Houston Marriott Westchase to learn from project developers, technologists, and steel and equipment suppliers their views on CNG viability. The conference program can be viewed online at http://www.lngexpress.com/CNG/agenda.asp

Registration is $1,497 and can be made at https://www.zeusdevelopment.com/secure/cng/register.asp

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